363 Main StAmherst, MA 01002

Property Details for 363 Main St

Year built

1920

Construction

FRAME

Lot size

0.13 AC

Property size (Sq ft)

4,434 SF

Property type

Investment properties

Property subtype

Live-work space

APN

AMHE M:0014B B:0000 L:0060

APU

AMHEM0014BB0000L0060

Description

This exceptional Amherst property, situated at 363 Main Street Unit 363, presents a unique investment opportunity. Spanning 0.13 acres, the building is zoned Business Village Center, offering considerable flexibility for various commercial and residential uses. Currently configured as a non-conforming mixed-use building, it features two sizable three-bedroom residential units, each providing ample living space, and a separate commercial space, ideal for a variety of businesses. The property benefits from the convenience of separate utility meters for each unit, simplifying management and cost allocation. Heating is provided by natural gas, while public water and sewer services are readily available. Its strategic location near established businesses and public transportation ensures convenient access for both residents and patrons. The property's proximity to the town center further enhances its appeal and potential for growth. This is a rare chance to acquire a versatile property in a thriving Amherst location, offering significant upside potential for savvy investors seeking a blend of residential and commercial income streams. The non-conforming zoning status presents opportunities for creative redevelopment and expansion, subject to local regulations. Serious inquiries are encouraged to explore the full potential of this remarkable investment.

• CAP approach

  CAP return

  Valuation

  6%

  $733,073

  6.5%

  $676,682

  7%

  $628,348

• Comparable approach

  Method

  Valuation

  Relative Method

  $579,346

  Geo Method

  $579,346

• Alternative Use

  Use

  Valuation

  Residential

  $839,086

  Hospitality

  $768,598

  Educational

  $639,465

  Medical

  $661,457

  Retail

  $994,723

Location Insight

City

Amherst

County

Hampshire

State

Massachusetts

Latitude

42.3756

Longitude

-72.5127

CBSA code

44140

CBSA name

SPRINGFIELD, MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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